EURUSD:daily candles analysis-12:00 (CET)

By IBT Staff Reporter On 10/28/09 AT 9:10 AM

We can see how the market is correcting the last thrust right now. The price needed a correction, but it clearly seems it broke the key level at 1.4911 that acted as a resistance so many times in the past. The correction could get to 1.4724if it's not too deep. If the pair keeps sliding, the contact with the uptrend could make the price stop. After rebounding, the target for the next weeks / months will be 1.5335 dollars per euro.